Holiday Ayo - The crypto market is growing. This can be seen from data from the Commodity Futures Trading Supervisory Agency (Bappebti) which states that crypto asset trading in Indonesia continues to show a positive trend from January to July 2024. 

It was recorded that the total value of crypto asset transactions reached IDR 344.09 trillion, an increase of 353.94 percent compared to the same period last year. 

This growth reflects the increasing public interest and participation in the crypto market in Indonesia. In direct proportion to the increase in transactions, the number of crypto investors has also increased, reaching 20.59 million in July 2024. 

This shows that crypto adoption continues to expand among Indonesian people. 

“We see a very positive trend in crypto trading in Indonesia, with the growth of transactions and the number of investors continuing to increase, proving that crypto is increasingly accepted in society," said Indodax CEO Oscar Darmawan responding to current crypto market developments, quoted in a written statement, Friday, August 30, 2024.

Seeing this trend, Oscar also believes that the growth of the crypto market in Indonesia can open up more opportunities for innovation in the digital financial sector in the future. 

“Increasing crypto adoption opens up great opportunities for the development of new financial products that are more adaptive and relevant to the needs of digital society," he explained. 

Oscar further explained that innovations such as blockchain-based payments, smart contracts, have the potential to change the way transactions, investments and asset management are carried out as a whole.  

On the other hand, even though there has been an increase in crypto transactions and investors for months, now the bitcoin market price is experiencing a correction, as seen in the decline in the price of bitcoin this afternoon, Friday, August 30 2024, which was observed to have fallen to around USD59 thousand. 

“This is part of the market dynamics that must be faced. These price fluctuations prove the importance of a careful and informed approach to investing. The current bitcoin price correction should not be seen as a negative indication, but as part of a larger market cycle," Oscar emphasized. 

He emphasized that it is also important for investors not to be influenced by short-term price movements and remain focused on long-term investment strategies. 

“Especially in managing risks better and taking advantage of existing opportunities," said Oscar.